Google Price Target Divergence (GOOG)

Mar.13.06 | About: Alphabet Inc. (GOOG)

In recent months as shares of Google have declined to $340 from a high of $475 on January 11th, analysts covering the stock have held tight with their price targets. Currently, the average GOOG price target of the 25 analysts that issue them is $489 per share (this does not include the $2000/share recommendation we got from Caris & Co. on January 6th).

If the stock continues to slide or remain in its current trading range, it seems that these price targets will begin to fall, most likely causing more short-term declines in the stock. While readers already know that we aren't big promoters of analyst recommendations, investors should realize that stocks do move on the news, so they should be aware of the current divergence in GOOG: